Jul 8, 2011 10:00pm EDT
. and that means that we still have a big hole to fill. gwen: who is in that big hole? and why is it that month after month, and after month, it never seems to get more shallow? >> let's go back a little ways. a few months ago, the economy seemed to be having a nice head of steam. we were seeing very strong job growth numbers of 200,000 per month. and suddenly everything seemed to hit a wall. we've had a run of bad luck. we had very bad snowstorms earlier this year, a series of natural disasters here. the big hit came from gasoline prices that shot up to around $4 for gasoline because of the libyan rebellion. and finally the japanese earthquake and tsunami turned out to be a much bigger negative for us than we may have appreciated. because it cut off the flow of vital parts. put all those things together and it cost a lot of momentum. may very poor job numbers and in june, very poor job numbers. it was kind of surprising because in fact over the last few weeks, we had a wave of optimism because some of those tempering negatives seemed to be going away. as gasoline prices dropped and japan got b
Jul 29, 2011 10:00pm EDT
, it actually has these built in very significant disincentives towards making big deals, towards working together. and we are now seeing the fruits of that evolution in the house in particular. let's talk about the house in particular. john boehner has been a very interesting figure in all of this. at one point he was walking in the back door of the white house and trying to cut a deal with the president. obviously, shamed out of that. so now he came up with his own deal and spent a lot of time last night bringing people in through his front door, recalcitrant republicans, to get them on board. is he wounded by what happened this week? is he strengthened? >> i think what happened this week is that we have seen how little leverage and how weak john boehner really is. you know, he has a leadership style that he has said, you know, after the top-down leadership style we saw with nancy pelosi, that he wanted to be a consensus leader, that things would come from the bottom up and he won his majority in the house because a lot of these freshmen ran specifically against the establishment and ag
Jul 1, 2011 9:30pm EDT
be a big deal if the u.s. government couldn't pay its debts but i don't think that's where we're going to end up. we're not greece. greece is a small economy, greece is way, way deeper in hot than we are. people have lots of options where to put money and greece is low on their list because they think there's going to be a default. where the greece metaphor comes in is that greece and portugal and spain and ireland have raised questions about whether governments keep their promises. and to the extent that the congress and the president can agree on a long run fiscal plan, it raises the question of, are we ever going to get our act together so that we don't become greece? >> and is the market yet or do you suspect it will either price this in or panic? >> it's been amazing how calm the markets have been and i think there are two reasons for that. one is, they kind of assume that eventually washington will do what it has to do. and secondly, greece and europe have been such a preoccupation that nobody wants to have money there, so they've moved money to the u.s. as europe has done its ev
Jul 22, 2011 10:00pm EDT
, the nasdaq rose 24 and the s&p 500 added a point. the blue chips were dragged lower by a big earnings miss from caterpillar, while the tech heavy nasdaq was lifted by strong earnings from chip maker advanced micro devices monday, we go beyond the scoreboard. our look at the business of sports gets the latest on the n.f.l. lockout. for more financial news, tune in to "nightly business report" weeknights on this public television station.